Mumbai/Kochi hit by traffic slump...

Mumbai and Kochi ports in India recorded net deficits of Rs1.82 bill (US$37 mill) and Rs 351.5 mill (US$7.2 mill) respectively during the April 2001March 2002 fiscal year. Reasons for the deficits included mounting administrative expenses, including payment for voluntary retirement by employees and pension benefits, as well as declines in traffic.

During 2001-02, Mumbai Port throughput declined by 2.42 percent to 26.40 mill tons against 27.06 mill tons in the previous year. Kochi Port handled 12.10 mill tons of cargo in the last fiscal against 13.11 mill tons a year earlier.

On a brighter note, Kochi Port showed an increase in exports in March this year compared to the previous month. Coffee exports reached 22,782 tons in March compared to 12,904 tons in February. Tea exports went up to 12,705 tons from 7,595 tons. Seafood went up to 8,016 tons from 6,251 tons, while spices reached 5,724 tons from 5,182 tons. Cashew nuts, coir products and coir yarn also registered increases....